Greenleaf Trust grew its holdings in IDEX Co. (NYSE:IEX – Get Rating) by 7.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,281 shares of the industrial products company’s stock after buying an additional 93 shares during the period. Greenleaf Trust’s holdings in IDEX were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in IDEX by 9.8% during the third quarter. Bessemer Group Inc. now owns 1,007 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 90 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in IDEX by 1.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 35,972 shares of the industrial products company’s stock worth $7,185,000 after buying an additional 648 shares during the last quarter. Wedmont Private Capital purchased a new position in IDEX during the fourth quarter worth $386,000. Diversified Trust Co increased its position in IDEX by 4.9% during the third quarter. Diversified Trust Co now owns 6,236 shares of the industrial products company’s stock valued at $1,246,000 after acquiring an additional 292 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new stake in shares of IDEX in the third quarter valued at $569,000. 96.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
IEX has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of IDEX from $227.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Stifel Nicolaus increased their price target on IDEX from $241.00 to $242.00 and gave the stock a “hold” rating in a report on Friday, January 20th. Citigroup dropped their price objective on IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a report on Thursday, February 2nd. Oppenheimer increased their target price on IDEX from $245.00 to $247.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Finally, Mizuho lifted their target price on IDEX from $225.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $239.91.
IDEX Price Performance
IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The industrial products company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.03. The company had revenue of $810.70 million during the quarter, compared to analyst estimates of $772.75 million. IDEX had a net margin of 18.44% and a return on equity of 21.44%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, analysts predict that IDEX Co. will post 8.74 EPS for the current fiscal year.
Insider Activity
In related news, CFO William K. Grogan sold 3,181 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $226.36, for a total value of $720,051.16. Following the completion of the transaction, the chief financial officer now owns 13,864 shares of the company’s stock, valued at $3,138,255.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.
IDEX Profile
IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.
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